1-31-102. Actions against corporations.
(a) A like action may be brought against a corporation:
(i) When it has violated the law governing its creation or renewal;
(ii) When it has forfeited its privileges and franchises by nonuse;
(iii) When it has committed or omitted an act which amounts to a surrender of its corporate rights, privileges and franchises;
(iv) When it has misused a franchise or privilege conferred upon it by law or exercised a franchise or privilege not so conferred.
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